Home / Knowledge / News / Textiles / Growth rate in exports of apparel tapers, textile increases

Growth rate in exports of apparel tapers, textile increases

15
Oct '08
The latest data released by Customs show that China's textile and apparel exports totaled US $136.94 billion in Jan-Sept 2008, a year-on-year increase of 8.12 percent, though off course export growth was not near the one achieved in the same period last year.

Amongst them, textile exports amounted to $49.86 billion; garment exports reached $87.08 billion, representing a growth of 21.34 percent and 1.76 percent, respectively, over the same period last year but up by 7.14 percent and down by 21.24 percent respectively from the growth rate of the same time last year.

In September alone, China's exports of textiles and garment registered US $18 billion, a fall of nearly $600 million from the previous month, or a drop of 3.18 percent but a small year-on-year increase of US $3.1 billion or 1.75 percent.

The overall export growth rate still stayed at low ebb, September exports of textile yarn fabrics and products stood at $5.945 billion, up 13.67 percent from the same time last year while shipments of clothing and accessories were US $12.055 billion, a year-on-year decrease of 3.25 percent.

U.S. dollar gained in strength in August though Yuan appreciation against U.S. dollar continued to slow down in speed. Coupled with the increase in export tax rebate rate and the implementation of favorable trade policies, proved to be a blessing for disadvantaged enterprises.

However it has been reported that some small and medium sized clothing enterprises in to manufacturing of low-value-added products hold huge inventories due to which they are facing liquidity problems.

Industry analysts believe that China's textile and garment industry heavily depends on foreign markets and a further deterioration in growth in exports can be expected, if the economy in the United States continues to worsen.

The after effects of the turmoil in the US are now being felt in Europe which has continued to give very good business to exporters in China and is the number-1 destination for textile and garment industry in China.

Exporters are hoping that Europe will continue to provide the same amount of business which it has been doing so in the since the last nine months.

Fibre2fashion News Desk - China


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Oct 2020

Scottish businesses to gain from UK-Japan trade agreement

Scottish businesses, including textile firms, are set to benefit from ...

Pic: SA Company

Apparel/Garments | On 27th Oct 2020

TZP Group makes strategic investment in SA Company

TZP Group, through TZP Capital Partners III, a private equity firm...

Pic: Le Chateau

Retail | On 27th Oct 2020

Canada's Le Chateau files for bankruptcy protection

Canadian specialty retailer and manufacturer of exclusively designed...

Interviews View All

Spokesperson, Hugo Boss

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Jurgen Gauger, Spreadshirt

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Zafer Demirel,

Zafer Demirel

Turkey's Canlar Mechatronics is a leading designer and manufacturer of...

Prakhar Singh,

Prakhar Singh

Morgan Tecnica offers the largest and most modern range of solutions for...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search